The Reaching Beyond Our Borders Box Titled "The Name Game

question 195

Multiple Choice

The Reaching Beyond Our Borders box titled "The Name Game" explains:

• A)The importance of reality TV,and the various TV programs that have become international phenomena.
• B)The procedure a business goes through to register its domain name.
• C)How the positive appeal of a name can go a long way,all the way around the cyber-world.
• D)How it is important for businesses to play a name game with its customers.A company should produce a product and give it a different name in each country where it is sold.

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Definitions:

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen.

Comparative Advantage

The ability of an entity to produce goods or services at a lower opportunity cost than others, leading to more efficient trade.

Absolute Advantage

The ability of a party, company, or country to produce a good or service more efficiently than its competitors using the same amount of resources.

Comparative Advantage

The economic principle that a country or entity should produce goods and services for which it has a lower opportunity cost than its trading partners.